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Rabjohnamandago
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Steve is a single man whose salary is $92,000 per year. Based on the tax table
below, how much does he need to contribute to his employer's 401(k) in order to
fall in a tax bracket lower than the one he is currently in?

Steve Is A Single Man Whose Salary Is 92000 Per Year Based On The Tax Table Below How Much Does He Need To Contribute To His Employers 401k In Order To Fall In class=

Answer :

The amount that he needs to contribute to his employer's 401(k) in order to fall in a tax bracket will be $9750.

How to calculate the tax?

From the information given, Steve is a single man whose salary is $92,000 per year. Based on the tax table below, the amount that he needs to contribute to his employer's 401(k) in order to

fall in a tax bracket will be:

= $92000 - $82250

= $9750

Therefore, the amount is $9750

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